Stock Traders Buy High Volume of Elastic Call Options (NYSE:ESTC)

Elastic N.V. (NYSE:ESTC) was the recipient of some unusual options trading activity on Thursday. Traders acquired 4,904 call options on the stock. This represents an increase of approximately 130% compared to the typical volume of 2,131 call options.

Elastic Trading Up 2.7%

ESTC opened at $51.27 on Friday. The business has a fifty day moving average price of $59.58 and a 200 day moving average price of $74.12. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82. Elastic has a 12 month low of $48.71 and a 12 month high of $98.25. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of -64.09, a PEG ratio of 64.16 and a beta of 0.98.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. The company had revenue of $449.88 million for the quarter, compared to analyst estimates of $438.37 million. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.Elastic’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. Sell-side analysts expect that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Elastic news, insider Ken Exner sold 4,310 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $225,326.80. Following the sale, the insider owned 222,728 shares of the company’s stock, valued at $11,644,219.84. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jane E. Bone sold 887 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $46,372.36. Following the transaction, the chief accounting officer owned 42,284 shares in the company, valued at $2,210,607.52. This trade represents a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,375 shares of company stock valued at $2,091,797 over the last quarter. 12.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in Elastic during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic in the 2nd quarter valued at $31,000. Activest Wealth Management raised its holdings in shares of Elastic by 3,181.3% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after purchasing an additional 509 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of Elastic by 206.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock worth $42,000 after purchasing an additional 371 shares during the last quarter. Finally, Promus Capital LLC purchased a new stake in shares of Elastic during the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Piper Sandler decreased their target price on Elastic from $110.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Elastic in a research note on Wednesday, January 21st. Jefferies Financial Group reduced their price target on shares of Elastic from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Truist Financial lowered their price objective on shares of Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, Oppenheimer dropped their price objective on shares of Elastic from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Seventeen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and an average target price of $95.25.

About Elastic

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.